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BUSINESS & FINANCE

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The NYSE, cornerstone of American capitalism for 220 years, agreed to be sold as part of an $8.2 billion takeover by rival IntercontinentalExchange. The move comes amid increasing regulation and fierce competition in financial markets.

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PSS World Medical made a $43 million repurchase of its own shares last year, buoying the stock before bad news hit, even as four top managers were selling company shares.

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The OCC is preparing to take formal action demanding that J.P. Morgan remedy lapses in risk controls that allowed a $6 billion trading fiasco.

WORLD-WIDE

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Boehner scrapped his Plan B as conservatives rebelled. The speaker pulled the bill, which would have raised tax rates for incomes over $1 million, without a vote and disbanded the House until after Christmas. The move left behind uncertainty as to whether the fiscal cliff of spending cuts and tax increases can be avoided. It also raises questions about Boehner's ability to lead the GOP in further budget talks with Obama.